Yelp, Antitrust, and Google

Google, Amazon, and Facebook are modern-day railroads. The technology companies are three of the few organizations that own and control our modern infrastructure. Connor Dougherty published a nice look at how Google’s monopolist position impacts the businesses that rely on the infrastructure it owns. Like farmers and railroads before, web service providers like Yelp are effectively… Continue reading

Competition creates innovation: Creative Destruction & America’s problem

In the early 1940s, Joseph Schumpeter, a Harvard economics professor, was researching business innovation. At this time, innovation wasn’t really something that was studied, it was just something that occurred. Outside of Bell Labs, no organization seemed interested in investigating how great ideas came to be, and how they were scaled to society. Schumpeter was… Continue reading

The perils of privatizing public goods

In September 1987, nearly a year before Tracy Chapman sang about revolution, President Ronald Reagan started one in American policy—he started privatizing America’s public goods. The revolution didn’t happen overnight. In fact, most people didn’t even realize it occurred. As these two fantastic articles reveal, nearly thirty years later we’re dealing with the damaging consequences—economically,… Continue reading

How do you rebuild America? Stop treating government like a start up.

It’s news to no one that America’s middle class has been devastated by computers and globalization. With income inequality on everyone’s mind, it’s now the billion-dollar question policy makers face over the next twenty years. The standard solution follows something like this: The entire economy seems to be stagnant, except for Silicon Valley. Government needs to copy… Continue reading